Listing photoChelmsford, MA 01824 · MLS 73535247
"Property will not qualify for traditional financing; cash or renovation/rehab financing only."
8 Pennock Rd is a 4-bedroom, 3-bath home in Chelmsford, Massachusetts listed at $690,000 with 2,089 square feet, built in 1968. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($69,000), we fund the $229,790 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Massachusetts or our Massachusetts hard money lending page.
From the listing. Investor and contractor opportunity on a large 0.69-acre lot in an established Chelmsford neighborhood. This 1968 Colonial offers 4 bedrooms, 3 full baths, and over 2,000 square feet, plus a full basement and a strong layout with hardwood floors throughout. The home is in very poor condition and needs significant work throughout, presenting a true value-add project for the right buyer or a tear-down/rebuild candidate on a desirable level lot. Sold strictly as-is. Property will not qualify for traditional financing; cash or renovation/rehab financing only. This is a short sale subject to third-party lender approval, and an estate sale subject to license to sell; pricing and timeline are subject to both lender and court approval.
Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.
| Item | Fix and flip: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $69,000 (10%) | |
| Loan at closing | $621,000 | |
| Full renovation, rough estimate* | We fund $229,790 | |
| Total loan | $850,790 | |
| Rate, interest only | from 9.75% | |
| Points | 1.5 ($12,762) | |
| Appraisal | Required | |
| Estimated monthly interest | $6,913 at full draw | |
| Cash to close, rough estimate | $86,152 | |
Rough estimates at the list price of $690,000 for a 740 score and 1 completed project. This is not a commitment to lend.
*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $110 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
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Cash or hard money only"CASH OR PRIVATE MONEY ONLY — AS-IS SALE."
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